Estate Distribution

New Jersey law requires an in kind distribution of assets in the probate estate if there is no objection and it is “practicable” to do so.

In Estate of Hope, 916 A.2d 469 (N.J. Super. App. Div. 2007), the court held as a matter of first impression that the statute did not require the in kind distribution of real property where two of the four residuary beneficiaries objected to in kind distribution, the beneficiaries requesting the in kind distribution did not submit a plan for subdividing the property, and the consultant the executor retained reported that dividing the property would reduce its development potential.